Wage & Salary Administration

A good and sound wage and salary system alone can help any organisation to attract, retain and motivate a robust work force, of the required calibre and qualification.

A sound wage structure of any organisation should have the following aims:

1. 

To get the appropriate quantity and quality of manpower. 

2.

Attractive enough to retain the workforce.

3.

Is good enough to motivate and enhance the morale of the  work force for excellent performance.

4.

Is able to maintain equity and fairness in compensation for similar jobs.

5.

Is cost-effective and beneficial to the organisation.

Wage and salary Administration should be vibrant enough to control the pay-rolls and reduce turnover, grievances and frictions within the organisation, while all along motivating people to perform better. In addition, the wage and salary structure should also help in building a good public image and brand name.

Ultimately, a sound wage and salary system should encompass  all vital factors like adequacy of wages, social balance, supply and demand, fair comparison, equal pay for equal work and work measurement.

Undoubtedly, the wage and salary administration is the most complex aspect of Human Resource Management.  It is linked to ‘Value of labour’, production/productivity, Motivation, legal requirements, competitive wages, Social Security needs etc.   

The various components are salary, remuneration, pay, perquisites, allowances, incentives, commissions, advances, honorariums, profit sharing etc.

The actual calculation and implementation, based on these different aspect is termed as ‘Pay-fixation’ and involves knowledge of such laws as ‘Minimum Wages’, ‘Living wage’ equal remuneration for similar jobs, pay-fixation theories and matrices. 

We, at ATBUDAS would facilitate making and administration of a sound wage and salary administration package as our team is well-versed with all the above aspects of pay-fixation. In addition, we have the rich experience of designing and implementation of wage and salary structure for many institutions.